Cenovus Energy (TSE:CVE) PT Raised to C$31.50

Cenovus Energy (TSE:CVE) (NYSE:CVE) had its target price hoisted by Desjardins from C$29.50 to C$31.50 in a research report released on Tuesday morning, BayStreet.CA reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on CVE. Royal Bank of Canada upped their target price on Cenovus Energy from C$28.00 to C$32.00 in a research report on Tuesday, April 9th. BMO Capital Markets upped their price target on Cenovus Energy from C$29.00 to C$33.00 in a report on Thursday, March 28th. JPMorgan Chase & Co. cut their price target on Cenovus Energy from C$35.00 to C$34.00 in a report on Thursday, January 11th. National Bankshares upped their price target on Cenovus Energy from C$29.00 to C$38.00 and gave the stock an outperform rating in a report on Friday, April 19th. Finally, Jefferies Financial Group upped their price target on Cenovus Energy from C$28.00 to C$36.00 and gave the stock a buy rating in a report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of C$33.35.

Cenovus Energy Trading Up 0.8 %

TSE:CVE opened at C$29.32 on Tuesday. The company has a debt-to-equity ratio of 34.64, a current ratio of 1.56 and a quick ratio of 1.00. Cenovus Energy has a fifty-two week low of C$19.82 and a fifty-two week high of C$29.96. The stock’s 50-day moving average is C$26.40 and its two-hundred day moving average is C$24.51. The stock has a market cap of C$54.83 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 0.09 and a beta of 2.78.

Cenovus Energy (TSE:CVE) (NYSE:CVE) last announced its quarterly earnings results on Thursday, February 15th. The company reported C$0.39 EPS for the quarter, beating the consensus estimate of C$0.33 by C$0.06. The business had revenue of C$13.13 billion during the quarter, compared to analysts’ expectations of C$13.06 billion. Cenovus Energy had a return on equity of 14.60% and a net margin of 7.87%. During the same quarter in the previous year, the business posted $0.39 EPS. As a group, equities research analysts forecast that Cenovus Energy will post 2.6887232 earnings per share for the current fiscal year.

Cenovus Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 28th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.91%. The ex-dividend date was Thursday, March 14th. Cenovus Energy’s dividend payout ratio is 26.42%.

Insider Activity at Cenovus Energy

In other Cenovus Energy news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of the stock in a transaction dated Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. In related news, Senior Officer Rhona Marie Delfrari sold 18,000 shares of Cenovus Energy stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of C$29.21, for a total value of C$525,835.80. Also, Senior Officer Jonathan Michael Mckenzie bought 50,000 shares of Cenovus Energy stock in a transaction dated Friday, February 16th. The shares were acquired at an average price of C$23.49 per share, with a total value of C$1,174,500.00. Insiders have sold a total of 87,000 shares of company stock worth $2,414,507 over the last 90 days. Insiders own 31.50% of the company’s stock.

Cenovus Energy Company Profile

Cenovus Energy Inc, together with its subsidiaries, develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates through Oil Sands, Conventional, Offshore, Canadian Refining, and U.S. Refining segments.